Business Directories

Abraaj Capital expands team

Dubai, September 9, 2008

Abraaj Capital said the four new senior appointments it has announced across various management functions are in line with the company's growth plans in the Middle East, North Africa and South Asia (MENASA) region.

The company said Pervez Akhtar, Hisham Ahmed Ashour, Ashish Dave and Matteo Stefanel have been appointed as executive directors. Collectively, they have over 55 years of specialised industry experience.

Arif Naqvi, Founder and Group chief executive officer, Abraaj Capital, said: "We have worked with each one of them on several key transactions in the past, and are convinced that their vast experience and skills will further strengthen our ability to execute our strategic objectives for the ultimate benefit of our investors.

"Pervez, Hisham, Ashish and Matteo are recognised leaders in their own fields, and that they have joined our management team is testimony to the confidence we all share in the future of the private equity industry in the Menasa region," he added.

Pervez Akhtar will be joining the Abraaj investment management team from Allen & Overy, where he served as a partner and head of the corporate practice. He brings over 15 years of extensive experience in private equity, corporate and corporate finance work. He has advised leading international clients, including FTSE 100 companies, NYSE/Nasdaq-listed corporates, and sovereign wealth funds.

Hisham Ahmed Ashour joins the portfolio management team at Abraaj Capital. He was previously a partner and the regional practice leader for Alvarez & Marsal in the Middle East, Africa and Turkey, which specialises in corporate turnaround and restructurings, performance improvement and transactional advisory service.

He brings with him 19 years of international operational performance improvement and turnaround experience spread across Europe and the Middle East across different sectors and industries.

Prior to joining the finance team at Abraaj, Ashish Dave worked as a partner with KPMG based out of Dubai, where he led the firm’s private equity advisory business for the Middle East and South Asia. He brings with him over 11 years of private equity experience advising clients within and outside the region.

Matteo Stefanel brings over 12 years of private equity and investment banking experience to the investment team at Abraaj, which he developed through more than 60 M&A transactions in Europe, the US and Middle East.

Prior to joining Abraaj, Matteo Stefanel was with Marfin Investment Group where he was the Chairman of the Recommending Investment Committee, heading all transaction execution.

He also served as managing director in the Financial Institutions Group at Deutsche Bank. - TradeArabia News Service